Ohio School Employees tops benchmark with 6.62% return for fiscal year

Ohio School Employees Retirement System, Columbus, reported a preliminary net return of 6.62% for the fiscal year ended June 30, said Tim Barbour, pension fund spokesman, in an email.

The $14.1 billion pension fund's net return exceeded its policy benchmark return of 6.48%.

For the three, five and 10 years ended June 30, the pension fund returned an annualized 9.63%, 6.77% and 9.42%, respectively. Whether the returns were gross or net could not be learned immediately.

The pension fund returned a net 9.2% for the fiscal year ended June 30, 2018.

Among asset classes whose returns were available, private equity had the highest preliminary return, at a net 15.17% for the most recent fiscal year, followed by real assets at 9.3%, fixed income at 8.07%, domestic equities at 7.63% and international equities at 1.6%.

Policy benchmark information for the individual asset classes is not yet available.

The pension fund's target allocation is: 22.5% each, domestic equities and international equities; 19% global fixed income, 15% global real assets, 10% each in global private equity and multiasset strategies and 1% in short-term securities.

Actual allocation information as of June 30 is not yet available. As of May 31, the actual allocation was: 24.3% domestic equities, 21% international equities, 15.9% global fixed income, 15.1% global real assets, 9.9% global private equity, 8.1% multiasset strategies, 3.1% cash equivalents and 2.6% opportunistic and tactical investments.